Manager, Economic Capital

  • 33414
  • Non-Life - Actuarial
  • |
  • Ontario, Canada
  • |
  • Mar 7, 2018
  • Leads the effort to develop and maintain economic capital model and related analytics, which includes identification of stress scenarios, capital analysis, stress testing and capital forecasting.
  • Analyzes the capital impact of reinsurance, investment and strategic activities
  • Participates in the ongoing development, implementation and enhancement of various enterprise risk management / own risk and solvency assessment-related processes related to capital
  • Provides guidance and training to direct reports involved in the modelling process ensuring best practices are being followed including model development and output review
  • Reviews and assesses model validation plans and processes using a variety of techniques such as statistical and analytical testing, estimation methods, benchmark methodologies, and accuracy checks to determine the reasonableness of results
  • Designs, implements and tests valuation/financial models to ensure the company is operating within its risk appetite and material risk tolerances and report material findings
  • Creates presentations on own risk and solvency assessment, economic capital model and stress testing, as needed
  • Promotes the concept of economic capital model, and acts as the main contact in the economic model team to coordinate with various departments for implementation in the development, calibration and documentation of quantitative methodologies
  • Prepares appropriate documentation consistent with professional actuarial standards and in compliance with all applicable legislation
  • Performs other duties as assigned
  • Five years’ experience in risk management, actuarial or investment practice that would ideally include: Capital Model Development, Financial Reporting, Dynamic Capital Adequacy Testing.
  • Post-secondary education in Actuarial Mathematics, Statistics, Mathematics, Finance, Economics or other related field of study.
  • Strong analytical, critical thinking and problem solving skills with the ability to effectively resolve complex situations and issues.
  • Strong knowledge of core functions of an insurance company and general insurance; in depth knowledge of P&C risks, including insurance and financial risks.
  • Strong knowledge of Microsoft Office Suite and other business-related software systems, including processing systems and applications, hardware and software tools, programming languages, computer modeling, and spreadsheet applications.
  • Strong interpersonal, communication and presentation skills.
  • Ability to effectively interact with all levels of internal and external business partners.
  • Ability to identify when something needs to be done and initiates action as required
  • Adapts to change effectively
  • Ability to develop and implements comprehensive plans that bridge complex issues and span across time
  • Strong leadership skills with the ability to develop and communicate a vision
  • ACAS/FCAS or MS/MBA designations an asset